Crude oil prices remained steady on Wednesday after a run-up on hopes of global economic recovery. The Nymex crude oil was at $68.53 per barrel
down 0.02 cents.
The rupee opened higher Wednesday on expectation of capital inflows in the stock market. At 9:20 am, the partially convertible rupee was at 46.95 against the dollar as compared to previous close of 47.01
Essar Oil is learnt to have decided to raise around $500 million through the QIP route as part of its $2 billion fund-raising programme. The Ruias-owned oil company has recently taken the decision to raise a couple of billion dollars to finance its expansion plans.
Positive margins in petrol and diesel helped state-owned Hindustan Petroleum (HPCL) to post a 13-fold jump in its fourth quarter net profit even after a 20% drop in total income. The company’s net profit went up to Rs 5,104 crore in the March quarter from Rs 385 crore in the year-ago period, while total income, during the period, dipped to Rs 25,154 crore from Rs 31,470 crore. The HPCL board has declared a dividend of 52.5% — Rs 5.25 per share of Rs 10 each — for FY09.
The Delhi-based Vishal Retail is planning to raise up to Rs 150 crore through the QIP route. The proceeds will help the second-largest listed retailer in its expansion plans and get fresh inventory into its stores. The retailer has shareholder approval to raise funds through the QIP route, which is valid till October.
HEG bought back foreign currency convertible bonds worth $3 million out of the total outstanding of $11.05 million. The FCCBs were issued with an issue size of $28.75 million of which FCCBs worth $17.70 million have already been converted into equity.
The government has given an in-principle approval to real estate developer DLF for denotifying four of its special economic zones
that it wants to surrender on the condition that all tax incentives given to the zones will be refunded. The board of approvals for these manufacturing hubs met on Tuesday and awarded formal approval to eight SEZ proposals and in-principle approval to two proposals. DLF has said it owes the government Rs 6-7 crore in the form of tax exemptions given to its four SEZs.
DLF has decided to scrap its Rs 700-crore IT SEZ at Rajarhat, putting paid to Buddhadeb Bhattacharjee's dreams of 40,000 jobs and hopes of boosting the state's sunrise sector. The decision comes just four months after DLF, India's largest property developer, cancelled the Rs 40,000-crore Dankuni township project.
IDBI Bank and state-run Power Finance Corporation have agreed to lend close to Rs 4,000 crore to Reliance Power (R-Power) for its proposed 4,000 MW ultra mega power project at Krishnapatnam in Andhra Pradesh costing over Rs 17,000 crore.
ACC’s sales rose 1.1 percent to 1.82 million tonnes in May as compared to 1.79 million tonnes a year ago.
Radhe Developers has approved splitting of share of face value Rs 10 per share to Re 1 per share.
down 0.02 cents.
The rupee opened higher Wednesday on expectation of capital inflows in the stock market. At 9:20 am, the partially convertible rupee was at 46.95 against the dollar as compared to previous close of 47.01
Essar Oil is learnt to have decided to raise around $500 million through the QIP route as part of its $2 billion fund-raising programme. The Ruias-owned oil company has recently taken the decision to raise a couple of billion dollars to finance its expansion plans.
Positive margins in petrol and diesel helped state-owned Hindustan Petroleum (HPCL) to post a 13-fold jump in its fourth quarter net profit even after a 20% drop in total income. The company’s net profit went up to Rs 5,104 crore in the March quarter from Rs 385 crore in the year-ago period, while total income, during the period, dipped to Rs 25,154 crore from Rs 31,470 crore. The HPCL board has declared a dividend of 52.5% — Rs 5.25 per share of Rs 10 each — for FY09.
The Delhi-based Vishal Retail is planning to raise up to Rs 150 crore through the QIP route. The proceeds will help the second-largest listed retailer in its expansion plans and get fresh inventory into its stores. The retailer has shareholder approval to raise funds through the QIP route, which is valid till October.
HEG bought back foreign currency convertible bonds worth $3 million out of the total outstanding of $11.05 million. The FCCBs were issued with an issue size of $28.75 million of which FCCBs worth $17.70 million have already been converted into equity.
The government has given an in-principle approval to real estate developer DLF for denotifying four of its special economic zones
that it wants to surrender on the condition that all tax incentives given to the zones will be refunded. The board of approvals for these manufacturing hubs met on Tuesday and awarded formal approval to eight SEZ proposals and in-principle approval to two proposals. DLF has said it owes the government Rs 6-7 crore in the form of tax exemptions given to its four SEZs.
DLF has decided to scrap its Rs 700-crore IT SEZ at Rajarhat, putting paid to Buddhadeb Bhattacharjee's dreams of 40,000 jobs and hopes of boosting the state's sunrise sector. The decision comes just four months after DLF, India's largest property developer, cancelled the Rs 40,000-crore Dankuni township project.
IDBI Bank and state-run Power Finance Corporation have agreed to lend close to Rs 4,000 crore to Reliance Power (R-Power) for its proposed 4,000 MW ultra mega power project at Krishnapatnam in Andhra Pradesh costing over Rs 17,000 crore.
ACC’s sales rose 1.1 percent to 1.82 million tonnes in May as compared to 1.79 million tonnes a year ago.
Radhe Developers has approved splitting of share of face value Rs 10 per share to Re 1 per share.
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